# Spark Starts Tungsten Exploration at Serid&\#xF3; as Global Demand Surges Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/spark-starts-tungsten-exploration-at-serid-xf3-as-global-demand-surges--943cbdd3-9948-45f4-a77b-86940085a2e1 Original source: https://orestocks.com/company/SPRK.CN/press-releases/6564331465271574 Publisher: orestocks Original announcement: 2026-09-16T12:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Spark Energy Minerals Inc. - Ticker: SPRK.CN - Exchange: Unavailable - Region: Rio Grande do Norte, Brazil - Primary commodity: Tungsten - Secondary commodities: Gallium, Rare earths, Gold, Bismuth - Document categories: Permitting, Resource update - Extracted: 2026-09-19 01:21:08 UTC Narrative sentiment: 0.30 · Bullish ## Minestarters Atlas summary Spark Energy Minerals Inc. has commenced reconnaissance exploration for tungsten at its Seridó Project in Rio Grande do Norte, Brazil, on 12 newly acquired permits covering 21,493 hectares. The project is located in a historic tungsten district near past-producing mines, with the company targeting a strategic metal experiencing surging global demand. While the project is early-stage with no identified mineralization or assay results yet, the company has identified high-priority target areas based on historical geochemical data. Reasoning: Spark Energy Minerals announced the commencement of tungsten exploration on 12 newly acquired permits \(21,493 hectares\) in Brazil's historic Seridó district. The permits are strategically located near past-producing mines and high-grade historical geochemical anomalies, targeting a critical metal with surging demand. While the project is early-stage with no current resources or assays, the land package and exploration initiation are positive steps. - Positive factor: Acquisition of significant land package in a historic tungsten district with past-producing mines - Positive factor: Commencement of systematic exploration using modern methods - Positive factor: Strategic commodity \(tungsten\) with surging global demand and export restrictions from China - Positive factor: Presence of high-grade historical stream-sediment anomalies within or near permits - Positive factor: Qualified Persons have reviewed and approved the technical information - Negative factor: No mineralization yet identified on the company's permits - Negative factor: No assay results available from the current exploration program - Negative factor: All resource/reserve figures for neighboring properties are historical and unverified by the company - Negative factor: Exploration-stage property with no mineral resource or economic analysis Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 18 ## Classification and evidence **Nearology Play** Polarity: neutral Story-specific tag Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The company's permits are located 'beside producing and past-producing tungsten, gold and bismuth mines' and 'sit beside the district's mines and cover the same rocks that host them'. Evidence · text > sit beside the district's mines and cover the same rocks that host them **No QA/QC Disclosure** Polarity: negative Story-specific tag Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: While the company states 'mapping, stream-sediment sampling and rock-chip sampling, with full QA/QC' is underway, no specific QA/QC methods or lab certifications are disclosed for the current program, and historical data is unverified. Evidence · text > Mapping, stream-sediment sampling and rock-chip sampling, with full QA/QC, over five corridor-scale targets defined from the regional airborne survey; samples will be analyzed for gold and bismuth as well as tungsten. First results are expected before year-end. **No Study** Polarity: negative Story-specific tag Definition: No formal economic study — no engineering basis for the economics quoted. Why it applies: The company explicitly states that it has not completed any economic analysis for the project. Evidence · text > The Company has not estimated any mineral resource or mineral reserve for the Project, and it has not completed a preliminary economic assessment, pre-feasibility study, feasibility study, or other economic analysis. **Historical Estimate Only** Polarity: negative Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. Why it applies: All resource and reserve figures quoted for neighboring properties are explicitly stated as historical and unverified by the company's QPs. Evidence · text > The reserve, resource, tailings, grade and production figures quoted for those mines in Table 1 are historical, were reported by third parties or government agencies, have not been verified by the Company's Qualified Persons, and are not being treated by the Company as current mineral resources or mineral reserves. ## Extracted facts Stored fact records: 6. Some facts used in scoring do not have a stored record. ## Resource Estimates (6) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/spark-starts-tungsten-exploration-at-serid-xf3-as-global-demand-surges--943cbdd3-9948-45f4-a77b-86940085a2e1#fact-resource-facts-12) Barra Verde / Boca de Laje · tungsten Historical result Needs review: historical\_restatement #### Identity - Project: Barra Verde / Boca de Laje - Commodity: tungsten - Region: brazil - Reported Region: Rio Grande do Norte, Brazil - Ticker: SPRK.CN #### Resource scope - Estimate type: resource - Resource group id: resource:e5daadfe86fe877fa065 - Deposit or zone: Tailings, with Boca de Laje - Material type: Tailings #### Resource Data - Category: indicated - Tonnes: 3460000 - Grade: 0.12 - Grade Unit: % WO3 - Cutoff Grade: 0.06 - Cutoff Unit: % WO3 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: This is a historical indicated resource for tailings from a neighboring property, not verified by Spark. While it shows past potential, it has low novelty and confidence for the current company's project. - Negative factor: Historical estimate, not verified by the company - Negative factor: Effective date not specified, only PEA year - Negative factor: Reporting standards not explicitly stated for this specific estimate \(only PEA mentioned\) Evidence · table > Tailings, with Boca de Laje: 3.46 Mt indicated at 0.120% WO₃ + 0.81 Mt inferred at 0.093% \(0.06% cut-off; 2010 PEA\) Context: Barra Verde \(Currais Novos\) tungsten #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/spark-starts-tungsten-exploration-at-serid-xf3-as-global-demand-surges--943cbdd3-9948-45f4-a77b-86940085a2e1#fact-resource-facts-13) Barra Verde / Boca de Laje · tungsten Historical result Needs review: historical\_restatement #### Identity - Project: Barra Verde / Boca de Laje - Commodity: tungsten - Region: brazil - Reported Region: Rio Grande do Norte, Brazil - Ticker: SPRK.CN #### Resource scope - Estimate type: resource - Resource group id: resource:2b931de45852d90f7722 - Deposit or zone: Tailings, with Boca de Laje - Material type: Tailings #### Resource Data - Category: inferred - Tonnes: 810000 - Grade: 0.093 - Grade Unit: % WO3 - Cutoff Grade: 0.06 - Cutoff Unit: % WO3 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: This is a historical inferred resource for tailings from a neighboring property, not verified by Spark. Its inferred nature and historical status give it very low novelty and confidence for the current company's project. - Negative factor: Historical estimate, not verified by the company - Negative factor: Inferred resource category has high uncertainty - Negative factor: Effective date not specified, only PEA year - Negative factor: Reporting standards not explicitly stated for this specific estimate \(only PEA mentioned\) Evidence · table > Tailings, with Boca de Laje: 3.46 Mt indicated at 0.120% WO₃ + 0.81 Mt inferred at 0.093% \(0.06% cut-off; 2010 PEA\) Context: Barra Verde \(Currais Novos\) tungsten #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/spark-starts-tungsten-exploration-at-serid-xf3-as-global-demand-surges--943cbdd3-9948-45f4-a77b-86940085a2e1#fact-resource-facts-14) Borborema · gold Historical result Needs review: historical\_restatement #### Identity - Project: Borborema - Commodity: gold - Region: brazil - Reported Region: Rio Grande do Norte, Brazil - Ticker: SPRK.CN #### Resource scope - Estimate type: reserve - Effective date: 2026-02-01T00:00:00.000Z - Reporting standards: sec\_sk1300 - Resource group id: resource:a76acc5b3b2e58dec874 - Mining method: open\_pit #### Resource Data - Category: probable - Tonnes: 40700000 - Grade: 1.13 - Grade Unit: g/t - Contained Metal: 1.48 - Contained Unit: moz #### Prior Estimate - Resource Date: 2026-02-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: This is a historical probable reserve for a neighboring gold mine, reported under S-K 1300. While a robust estimate for that company, it is not verified by Spark and is not on their property, thus having low novelty for Spark's project. - Positive factor: Probable reserves reported under S-K 1300 standards - Negative factor: Historical estimate, not verified by the company - Negative factor: Not on company's property Evidence · table > Probable reserves 40.7 Mt at 1.13 g/t Au for about 1.48 Moz \(S-K 1300, February 2026\); about 65 koz a year over a 20-year mine life; ore body open along strike and down-dip Context: Borborema \(Currais Novos\) gold #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 4 [Link to this fact](https://atlas-extractions.minestarters.com/news/spark-starts-tungsten-exploration-at-serid-xf3-as-global-demand-surges--943cbdd3-9948-45f4-a77b-86940085a2e1#fact-resource-facts-15) Brejuí / Barra Verde / Boca de Laje / Zangarelhas · tungsten Historical result Needs review: historical\_restatement #### Identity - Project: Brejuí / Barra Verde / Boca de Laje / Zangarelhas - Commodity: tungsten - Ticker: SPRK.CN #### Resource scope - Estimate type: reserve - Resource group id: resource:7d47ce3eecfc4536a9ea #### Resource Data - Contained Metal: 1738 - Contained Unit: t WO3 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: Historical neighbouring-mine disclosure recovered from the source table. Evidence · table > One ore body with Barra Verde, Boca de Laje and Zangarelhas: about 70% of the district's 1942-1982 output of 55,000 t of concentrate at about 70% WO₃, from ore averaging 0.7-1% WO₃; 39% of Rio Grande do Norte's WO₃ reserves in 2009 \(1,738 t contained\), mostly at Brejuí Context: Brejuí \(Currais Novos\) tungsten #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 5 [Link to this fact](https://atlas-extractions.minestarters.com/news/spark-starts-tungsten-exploration-at-serid-xf3-as-global-demand-surges--943cbdd3-9948-45f4-a77b-86940085a2e1#fact-resource-facts-16) Bodó · tungsten Historical result Needs review: historical\_restatement #### Identity - Project: Bodó - Commodity: tungsten - Ticker: SPRK.CN #### Resource scope - Estimate type: reserve - Resource group id: resource:bb83c1cbd3cc58aec5da #### Resource Data - Contained Metal: 2718 - Contained Unit: t WO3 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: Historical neighbouring-mine disclosure recovered from the source table. Evidence · table > 61% of Rio Grande do Norte's WO₃ reserves in 2009 \(2,718 t contained\) Context: Bodó \(Bodó\) tungsten #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 6 [Link to this fact](https://atlas-extractions.minestarters.com/news/spark-starts-tungsten-exploration-at-serid-xf3-as-global-demand-surges--943cbdd3-9948-45f4-a77b-86940085a2e1#fact-resource-facts-17) All scheelite mines, Rio Grande do Norte · tungsten Historical result Needs review: historical\_restatement #### Identity - Project: All scheelite mines, Rio Grande do Norte - Commodity: tungsten - Ticker: SPRK.CN #### Resource scope - Estimate type: reserve - Resource group id: resource:ec9228027ed6df37b850 #### Resource Data - Contained Metal: 25400 - Contained Unit: t #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: Historical neighbouring-mine disclosure recovered from the source table. Evidence · table > Reserves of 25,400 t of contained tungsten at 0.04-2.4% WO₃ \(2013\); 451 t of concentrate at 72% WO₃ produced in 2007, mostly from Brejuí and Bodó Context: All scheelite mines, Rio Grande do Norte. #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.